Rethinking the dimensions and approach of Circular Economy from the perspective of developing countries

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Abstract: Developing Nations represents over 60 percentage of Globe. Economic growth of these nations linearly depends on combinations of market externalities, technological progress and gross value addition. Most of these nations were mere supplier of raw materials in the industrial era and still 70% of Nation’s population is dependent on primary sector for livelihood. This new wave of development, Circular Economy is said to create a value addition and trigger the prosperity of these nations by looping the production and supply chain mechanism. Research estimates that up to 85 per cent of opportunities to improve resource productivity lie in developing countries because of existing stage of economic growth. The portrayed illustrations of circular economy will manifest variant in developing nations. This paper focus on examining the applicability of circular economy, its dimensions and approaches for developing nations. The scale of applicability, market externalities, the bygone pillar of social dimension in sustainability etc, were discussed to provide a significant way forward for the concept to be more restorative and sustainable in the context of developing nations. Keywords: Developing nations, Market externalities, Dimensions, Approach, Circular economy.
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2: Ensuring the Economic Diversity and Resilience
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Research Associate
National institute of Urban Management
University college of engineering,Osmania University
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